umm.. well actually smpte does have some uses in audio recording, particularly in synchronizing drum machines and other synth-like equipment.
For example, say you want to have all the instruments from the drum machine go to separate tracks, but you only have two outputs. First, you would dedicate one track to the smpte signal your drum machine makes. The signal has time code information, so that when played back the machine knows exactly when to start and stop playing. This allows you to record a separate take for each piece of the virtual drum kit that you specified for each track, keeping them completely in synch.
What I typically do is dedicate one track to smpte, and another as the click track, both generated by the drum machine. Then once the drums are recorded, I simply use those tracks for other instruments.
Keep in mind that smpte is simply a means of communication between electronic components. You most likely will not use smpte for real drums or other "live" instruments.
Cy